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Majority of ballots cast, and the results are in


Michigan is home to 110 seats in the state house of representatives and 38 seats in the state senate. That’s a lot of individuals who are elected to serve the nearly 10 million residents in Michigan, and if you’ve made it this far you understand these 148 individuals can have significant effects on the CPA's practice arena in Michigan. A few quick numbers:

  • 30 new state senators – 4-year term
  • 46 new state representatives – 2-year term
  • 54 elected officials who have never served in Lansing

The  Whitmer administration will also be tasked with appointing new department heads, important to CPAs are the Treasurer’s position and the Director of the Department of Licensing and Regulatory Affairs (LARA). The MICPA has enjoyed great relationships with these departments the past 8 years and we’ll look to build on that success with the new administration starting now.


Recreational Marihuana approved by Michigan voters, what does that mean for CPAs?


There won’t be changes to the licensure model for potential clients hoping to engage in the industry, but many experts assume that this change in regulation from the user end will increase the business opportunities for those licensees. CPAs have relationships with clients who have or will choose to enter this industry, a few things to consider:

  • Marihuana is still classified as a schedule 1 drug by the DEA, making it illegal at the federal level
  • Professional liability coverage providers may or may not choose to cover activities in the marihuana industry.
  • Performing the attestation for the capitalization requirement will require a CPA to enter the Peer Review program if they are not already signed up.
  • Performing the attestation for the capitalization requirement will impair a CPA/firm's independence in other engagements.

This isn’t a comprehensive list, rather a quick compiling of thoughts for CPAs, for any more questions, call the MICPA government relations department at 248.267.3710.

In an Instant

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Check out our award winning advocacy series, In an Instant, with Shane Barry and John Lindley.

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Engaged members are paramount to the success of MICPA advocacy efforts. Utilizing a new tool, VoterVoice, the MICPA and its Government Relations staff will give members more tools to become engaged. Through this page you can access up-to-date information about current MICPA advocacy efforts and ways to get involved. For more information, contact the Government Relations department at 248.267.3710.

 

Get Involved

Interested in Government Relations? You can be involved by:

  • Attending Legislative Receptions
  • Participating in our grassroots efforts
  • Contribute to PAC

Contact Shane Barry via email for more details: sbarry@micpa.org

What Legislation is Impacting Michigan CPAs?

 Keep up to date on the status of proposed legislation and enacted laws that have an impact on the profession. Visit MICPA's legislative tracking page.

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